× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
5
o
5
4
m
4
b
4
x
4
a
4
l
4
t
4
S
4
m
3
s
3
New Topic  
LU DEE LU DEE
wrote...
Posts: 542
Rep: 0 0
6 years ago
The above figure shows the Lorenz curves for four different countries. Which of the following statements is FALSE?
 
  A) Country A has an income distribution that is not perfectly equal.
  B) Country D's income distribution is the most unequal of the four countries.
  C) The distribution of income is more unequal in country A than in country B.
  D) The distribution of income is more unequal in country D than in country C.



Ques. 2

Joe is contemplating a job where, with probability 0.6, he will make 100,000 and with probability 0.4 he will make 30,000. What is Joe's expected income from taking the job?
 
  A) 12,000
  B) 60,000
  C) 72,000
  D) 90,000



Ques. 3

If the official settlements balance is zero, a current account surplus must equal the capital account deficit. Is the previous statement correct or incorrect? Briefly explain your answer.
 
  What will be an ideal response?



Ques. 4

In August 2007, Sun Trust Bank has 83 million in loans and 114 million in M1 deposits. If Sun Trust is holding 4 million in reserves, the bank's reserve ratio is
 
  A) 31 million.
  B) 4.8 percent
  C) 3.5 percent.
  D) 72.8 percent.



Ques. 5

The above figure shows the marginal social benefit, marginal private cost and marginal social cost of producing steel. If the market is competitive, what government policy might move the market closer to efficiency?
 
  A) The government could subsidize the production of steel.
  B) The government could tax the production of steel.
  C) The government could issue vouchers to steel consumers.
  D) None of the above answers is correct.



Ques. 6

A firm's value of marginal product of labor curve
 
  A) is flatter than its demand for labor curve.
  B) is steeper than its demand for labor curve.
  C) is its demand for labor curve.
  D) bends backward.
Read 24 times
2 Replies

Related Topics

Replies
wrote...
6 years ago
(Answer to Q. 1)  C

(Answer to Q. 2)  C

(Answer to Q. 3)  The statement is correct. The sum of the current account balance plus the capital account balance plus the official settlements account must equal zero. If the official settlements account balance is zero, then the sum of the current account balance plus the capital account balance must equal zero. Therefore a current account surplus must be balanced by an equally-sized capital account deficit.

(Answer to Q. 4)  C

(Answer to Q. 5)  B

(Answer to Q. 6)  C
LU D. Author
wrote...
6 years ago
This is very helpful, my teacher this year is not good
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  977 People Browsing
 114 Signed Up Today
Related Images
  
 432
  
 1148
  
 906